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YUGEN REALTY, SURAT
Rajesh Labhubhai Lakhani, director of Kiran Gems, has purchased a luxury apartment in Mumbai’s prestigious Three Sixty West Tower in Worli for Rs. 97 crore. This super-premium residential tower also includes the Ritz-Carlton Hotel, making it one of the city’s most sought-after destinations.
The newly acquired apartment covers a RERA carpet area of 14,911 sq ft and is situated on the 44th floor of the tower on Annie Besant Road. Lakhani made this purchase along with two family members. The transaction, registered on May 29, included a stamp duty payment of over Rs. 5.84 crore.
This isn’t the first high-profile acquisition in the building; in April, Mavjibhai Patel, the managing director of Kiran Gems and part of the promoter group, bought another luxury apartment on the 47th floor of the same tower for the same price.
The Three Sixty West development is a mixed-use project consisting of two towers. One tower houses the Ritz-Carlton Hotel, while the other consists of luxury residences managed by the same prestigious brand. Lakhani’s purchase includes seven car parking slots and an additional balcony area of 884 square feet.
Developed by Oasis Realty, a joint venture comprising Sahana Group’s Skylark Buildcon and Moon Rays Realty along with Oberoi Realty, Three Sixty West is a symbol of opulence and high living.
Kiran Gems, established in 1985, is renowned for its production of diamonds and precious stones. As a Sightholder, Kiran Gems is authorized to purchase rough diamonds directly from the De Beers Group, a globally leading diamond miner.
The luxury real estate market in Mumbai continues to flourish, with sales in the city’s top eight markets set to hit record highs in 2023. This growth is driven by strong demand in the middle-income, premium, and luxury segments. Mumbai is the country’s largest and most expensive property market, setting new records in property registrations in the first five months of 2024.
South and Central Mumbai, known for India’s most expensive apartments, are at the forefront of high-value transactions involving businessmen, CXOs, actors, and sports celebrities.
Rajesh Labhubhai Lakhani’s significant investment in Oberoi 360 West underscores the trend of high-end real estate acquisitions in Mumbai, highlighting the city’s position as a prime destination for luxury living and investment.
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Disclaimer : This information has been collected through secondary research and Yugen Realty Newspaper is not responsible for any errors in the same.
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